affirmative covenant

Spanish translation: contrato/convenio/pacto afirmativo

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This reduction in collateral assets led to a default in an affirmative covenant related to the Company having sufficient collateral assets to support its outstanding debt.
¿Es un pacto/acuerdo afirmativo?
Gracias

avelingua: Covenants are affirmative and negative. 1st. An affirmative covenant is one by which the covenantor binds himself that something has already been done or shall be performed hereafter. Such a covenant will not deprive a man of a right lawfully enjoyed.